California Public Employees Retirement System (CalPERS) has approved $4.5bn (€4.3bn) worth of infrastructure commitments, according to the pension fund’s board meeting document.
The $443bn pension fund disclosed that it is investing with DigitalBridge for the first time by making a $500m commitment to the DigitalBridge Strategic Assets Fund. DigitalBridge is known for investing in cell towers, data centres, fibre networks, small cells and edge infrastructure assets globally.
CalPERS also has placed $750m into IFM Global Infrastructure Fund, an OECD markets-focused infrastructure fund.
The pension fund also disclosed it topped up three of its existing infrastructure partnerships.
CalPERS added $1.5bn to the Tower Bridge Infrastructure Partners. The partnership holds a $777.3m portfolio and recorded a one year-net return of 4.8%.
The pension fund placed $1.3bn into the Golden Reef Infrastructure Trust, a $1.2bn partnership with a one-year net return of 10%.
CalPERS also committed $501m to Harbert Gulf Pacific Power, a $1.5bn partnership with a 9.5% one-year net return.
CalPERS declined a request for further comment.
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